Extra Credit 1 Essay

Submitted By MeTree2
Words: 570
Pages: 3

Cost Control 201350 – 1
Extra Credit

Sales volume is the number of units sold whereas sales revenue is the income from sales of a good service. I would apply these to my business by recording the sales volume and compare it with my numbers from last year. For sales revenue, I would also record the numbers too and if were the numbers were high, possibly give a bonus to the staff that worked that day.

Sales history is a record of sales achieved by an operator in a given sales outlet during a specifically identified time period. I would definitely use sales history to look at how much to order from vendors as well as for staffing for a particular period.

Sales to date is the resulting number when adding today’s daily sales to the sales of all prior days in the reporting period. Using sales to date would assist my business by seeing the totals for the week in the time period for which sales records are being maintained. I could see the totals for a given quarter of 3 months.

A fixed average is an average for a specific (fixed) time period. Using this average for my business, I would be able to see what the average amount of sales would be in a certain period of the first 2 weeks of the month.

A rolling average is the average amount of sales or volume over a changing time period. It is computed using a data that will change. For example, by computing the rolling average, I can use the average to make effective predictions about the sales levels I can expect in the future because the averages are more up to date.

Check average is the record of revenue and guest counts. Knowing the check average would be useful to my business because you can see in a particular day of the week what the average was for guests.

Weighted average is an average that weights the number of guests with how much they spend in a given time period. This would be helpful to see what the combined average sales per guest is within two days.

Sales variance is the changes from previously experienced sales levels. Sales variances would show me in my business if sales are improving, decreasing, or just breaking even. Using sales variances would also help me to…